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10 Point investor checklist
10 Point investor checklist gives you a progress and performance tracking guide for your development into a superior investor.
Effective Investing & Finance Research course, Lesson 8, gives a checklist for investors to use tracking their investing progress. Links at the end guide you to related content if you want to learn more.
What’s in this lesson for me?
This lesson explains the basic points used to check on your investing improvements to help you develop into a superior investor. Knowing what to check allows you to enjoy a lifetime of improved investing.
Investors need a check up!
An annual check up on your investing plan and progress helps improve your performance. Use this 10 Point investor checklist as a guide to prepare for a meeting with your financial advisor.
Mid November can be a good time to do that so you have time to make any changes before another year arrives.
Investor check up topics
Work your way through this 10 Point investor checklist.
1. Plan to plan
Don’t wait for December; do it now to have the time needed to implement any changes before year end. Start today.
2. Financial planner meeting
Bring your list of topics to a meeting with your financial planner. A topic list lets you get the most out of your meeting. After all you pay one way or another so make sure you get the full benefit.
3. Losers be gone
Face up to finding losers in your investment portfolio. Sell the losers and buy more winners. This action immediately and directly improves your results and may affect your tax bill. If you need a positive spin on the idea of selling a loser, call it “harvesting loses” to reap tax benefits! This is one of the most important points on the 10 Point investor checklist.
4. Portfolio review
Check your portfolio for diversification, risk, results and satisfaction. Are changes or adjustments needed. Are you getting the performance you want and need?
5. Insurance review
Auto, home, health and life policies and needs should be reviewed. Are you getting the coverage and service you need? Do you have too little or too much coverage? What are your insurance options?
6. Use it or lose it
Especially medical health plans can have a use it or lose it provision. Under such plans if you do not claim a benefit it does not carry forward for use later. So plan accordingly and schedule doctor or dentist visits. If you have been letting such benefits slip by, put them in your calendar through 2014 and enjoy better care at no additional cost.
7. Maximize retirement
Make contributions to tax-advantaged plans like RRSP or 401(k) plans. This should be part of your pay yourself first approach to a personal financial plan. Make this important payment your first deduction on each paycheck.
8. Charitable donations
Contributions to qualified organizations can lower your tax bill.
9. Budget plan
Not exciting but very profitable. Establish a budget structure that works for you. Simply know where your money comes from and where it goes can be eye opening. That can let you make changes that greatly benefit you.
10. Beneficiary updating
Is information correct and current? Are your current intentions reflected in all the documents? Review them all to make sure.
How did you do on the 10 Point investor checklist?
Why this lesson matters
Investors that check and monitor their performance produce better results. They develop faster and become superior investors which put more money into their pockets. Do that and you too can become a superior investor.
Key takeaways from lesson 4,
10 Point investor checklist, includes:
10 Point investor checklist gives you a progress and performance tracking guide for your development into a superior investor.
- Plan to plan by starting now.
- Prepare a topic list and meet with your financial planner.
- Weed the loser out of your investment portfolio.
- Review your insurance for auto, home, health and life policies.
- Do a use it or lose it checkup on your health coverage, tax and employer retirement contribution plans.
- Make maximizing retirement plan contributions you 1st payroll deduction.
- Charitable donations can lower your tax bill while supporting good causes to make the world a better place.
- Make a budget plan and start putting more money into your pockets!
- Check your documents and policies to have beneficiaries up to date.
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Make money work for you
Use White Top Investor lessons to learn investing. By doing that you can grow into a knowledgeable, comfortable and confident investor. To learn how, you can learn investing one small step at a time at your own pace. Do that and become the master of your financial security and independence. White top Investor never sells or shares our email list. Learn more.
Effective Investing & Finance Research:
Introducing Effective Investing & Finance Research Lesson 1
Investor homework grows profit Lesson 2
Find money making stocks Lesson 3
Money making stock issues Lesson 4
Using watch list holds Lesson 5
Oprah got it right – Aristotle got it wrong Lesson 6
Investopedia finance and investing education Lesson 7
10 Point investor checklist Lesson 8
Investing confidence, taxes and learning Lesson 9
Media exposes advisor incompetence Lesson 10
5 Key finance checks Lesson 11
Next lesson 9:
Investing confidence, taxes and learning
Have a prosperous investor day!
Bryan
White Top Investor
[email protected] WhiteTopInvestor.com
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© 2013-21 Bryan Kelly
About the Author Bryan Kelly
Bryan Kelly shares decades of experience to make stock market investing accessible to everyone. His knowledge guides investors to make money work for them and avoid mistakes seeking personal empowerment, independence, and retirement comfort. The About page tells the story of how a question from his daughter began White Top Investor.
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